Less than a year ago major shale firms were saying they needed oil above $ 60 a barrel to produce more; now some say they will settle for far less in deciding whether to crank up output after
the worst oil price crash in a generation.
Not exact matches
There was also a fair amount of
bad news baked into the
price of stocks at the beginning of 2016 that never materialized (a U.S. recession, Chinese yuan devaluation and
crash in
oil prices, for instance).
However, the fact that the average quantity of frack sand used per well has more than doubled in recent years — which has helped lower the breakeven
price of U.S. shale
oil — should help insulate the industry from the
worst of the
oil crash.